The U.S. subsidiary of the German manufacturer maintains full operations at its facility in Hillsboro, Oregon, although its parent company and its German units filed for insolvency last week.
Q1 sales increased by 37% compared to a year earlier. The company also posted a positive Ebit for the first time in five years.
The Bonn court has confirmed to pv magazine that Horst Piepenburg was named temporary administrator for SolarWorld. Meawhile, the company’s German units also filed for insolvency.
German PV equipment providers were able to increase their sales by 20% in the past year. Demand for solar production equipment, however, is slowing.
The U.S. supplier of automation systems for the PV industry also saw order intake and quarter-end backlog increase in the latest quarter. All of the company’s segments contributed to the turnover growth registered in this period.
At its joint exhibition with Dow Corning at the SNEC show in Shanghai last month, Dow Elastomers showcased its ENGAGE PV POE solution, a polyolefin-based material that can be used in manufacturing both top and bottom encapsulant films for many module types.
Leading solar analysts say that SolarWorld’s bankruptcy, announced yesterday, should not have come as a surprise. Pointing to the current “viciously competitive” cell and module market, and the ongoing dispute between Hemlock and SolarWorld subsidiary Deutsche solar GmbH, analysts from IHS Markit and BNEF, say that the writing had been on the wall for the German company for some time.
The European solar industry’s peak body SolarPower Europe says that yesterday’s insolvency announcement, from German-based producer SolarWorld, is regrettable and that it is of “vital importance” that all parts of the solar value chain are present in Europe.
German laser specialist LPKF has made a good start to 2017, with especially strong performance from its solar equipment segment, which saw a revenue increase by 71% compared with the same period for the previous year.
The German equipment provider reports an operating profit of €20 million for the first quarter of this year.
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